£95K per hour

[DimPrawn]

Builder Barratt Development banks £95k an hour as it cashes in on Help to Buy | Daily Mail Online

Britain's biggest housebuilder is celebrating a record year after cashing in on the taxpayer-funded Help to Buy scheme.

Barratt Developments raked in profits of £835.5million in the 12 months to June 30 – up 9 per cent on the previous year and the equivalent of £95,000 an hour.

The company sold 17,579 new build homes, just 184 more than a year earlier, generating revenues of £4.9billion.

You see, Britain is booming. It just needs less spend on health, infrastructure, education, policing and more on tax-payer bungs to house builders.

What price that 50 square metre executive 5 bedroom linked detached house in Milton Keynes.

[TwoWolves]

It's easy to make money when the government have your back and all your competitors have been liquidated.

House builders' profits explode 5x in 6 years - OurCity.London

[meridian]

Sounds like jealousy to me, the same people that are complaining that the London mayor isn’t building enough affordable housing.

[TwoWolves]

The houses that are currently being built are extremely poor quality, worse than even the '70s and '80s with profit margins that are eye-watering by any industry standard. They can do this because the government has, through favour with the larger builders put most of the smaller competition out of business.

My father ran his own civil engineering company and after he retired he worked for the local council. He was flabbergasted at the corruption.

[Yorkie62]

The houses that are currently being built are extremely poor quality, worse than even the '70s and '80s with profit margins that are eye-watering by any industry standard. They can do this because the government has, through favour with the larger builders put most of the smaller competition out of business.

My father ran his own civil engineering company and after he retired he worked for the local council. He was flabbergasted at the corruption.

Corruption is rife within most councils, particularly their planning departments, and especially those within the South-East of England where a private swimming pool takes precedence over a protected species such as the Great Crested newt.

[fiisch]

Time to put my day rate up me thinks....

[SimonMac]

It's easy to make money when the government have your back and all your competitors have been liquidated.

House builders' profits explode 5x in 6 years - OurCity.London

Which is why I have BDEV and Persimmon Shares in my SIPP

[BR14]

Which is why I have BDEV and Persimmon Shares in my SIPP

Did you have Carillion, too?

[DimPrawn]

Which is why I have BDEV and Persimmon Shares in my SIPP

Might be time to sell them soon, rumour has it "Help to Make Big House Builders Billionaires with Tax-Payers Money" might be coming to an end.

[Hobosapien]

We'll see what happens in the Autumn Budget in November, but those 300,000 'promised' new houses a year aren't going to build themselves, so I wouldn't bet against more government subsidisation just yet.